The most important metric for driving e-procurement return on investment is ‘spend under management’.

So what do the Gartner report findings mean when it comes to getting the most from your investment?

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The Gartner e-Procurement Market & Vendor Landscape report also features market observations by leading analysts, Deborah R Wilson and Nigel Rayner.

e-Procurement solutions can deliver 100% savings by halting and/or redirecting unnecessary expenditures

A final observation about the e-Procurement market is the increasing desire of prospective buyers to favour vendors that offer related, natively integrated solutions in a broader suite

Notes on Methodology

Vendors were assessed on 11 key elements, compiled from hundreds of e-procurement inquiries with end user clients fielded by Gartner over the past five years. The areas assessed represent the capabilities and attributes prospective buyers request most.

Of more than 60 candidates considered for inclusion, only 32 met the criteria for a full rating in the report, being able to demonstrate the requisite:

• Size
• Growth
• Innovation
• Product ownership
• Punch-out support
• References
• Scope

Qualifying vendors completed a very detailed survey in the spring of 2011 on what features and capabilities they currently offer and from March through July 2011 Gartner conducted reference calls and solicited detailed reference survey input in order to formulate the final report and scores.

September 2011 saw the release of the highly influential and authoritative e-Procurement Market and Vendor Landscape report from Gartner, the world's leading information technology research and advisory company.

Wax Digital is proud and excited to have been judged the number one procurement vendor in the UK, comprehensively outscoring our competitors across the 11 key criteria evaluated in the report.

In addition, Wax Digital placed in the top 5 worldwide for what are widely regarded as the two most important individual criteria, outlined below:

As well as scoring first place in the UK, Wax Digital was placed first in Europe and third worldwide for Scope Breadth.

What does it mean?

Scope Breadth refers to the degree to which customers have been successful leveraging their e-procurement solutions to support multiple types of spending. The wide variety of spending categories that can be enabled by an e-procurement solution includes e-catalog items, internally stocked items, milestone-based services and free-form text purchases. Some organizations also use an e-procurement solution to purchase direct materials.

Why is it important?

Most organizations implement an e-procurement solution in the hope of managing the majority of their indirect spending through it, and often build their business case assuming they will be successful in this endeavour. In reality, the percentage of indirect spending through e-procurement solutions varies widely. More than half of the Gartner respondents have 50% or less of their total indirect spending handled by their e-procurement solution.

Wax Digital was placed in the top 5 worldwide for e-requisitioning

What does it mean?

The heart of the e-procurement application is its self-service e-requisitioning capability. This rating element focuses purely on the features that are most commonly used and requested, as compiled over the past five years through Gartner client inquiries.

The capabilities range from basic features like PO creation and desktop receiving to budget encumbrance, configurable user dashboards and integrated request for quotation.

Why is it important?

E-requisition support is important, because this capability enables non-procurement professionals to efficiently request goods and services on their own. E-requisitioning functionality should be configured to capture cost center data for accounting, create an audit trail of activity, make management approvals easy, verify receipt and tie proposed expenses to the budget.

It is therefore perhaps the key measure of success of any e-procurement system, in combination with Scope Breadth above, in determining how effectively a solution can be deployed across all spend and all user types.

Put the UK No1 to Work for Your Organisation

Wax Digital web3 delivers highly intuitive web-based spend management, with a focus on ‘people powered procurement’ that ensures users at every level – both inside and outside your organisation – can quickly and easily engage.

The result is a better purchasing and supplier experience, dramatically improved control, compliance and visibility of spend across the organisation, and ultimately significant cost savings that feed straight to the bottom line.

If you’d like to find out more please get in touch today – we’d be delighted to show you what makes us No 1.